KEY EVENTS TO WATCH FOR:

Wednesday, September 14, 2022 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 258.1)

                       Composite Idx, W/W% (previous -0.8%)

                       Purchase Idx-SA (previous 197.8)

                       Purchase Idx-SA, W/W% (previous -0.7%)

                       Refinance Idx (previous 556.4)

                       Refinance Idx, W/W% (previous -1.1%)

8:30 AM ET. August PPI

                       PPI, M/M% (previous -0.5%)

                       Ex-Food & Energy PPI, M/M% (previous +0.2%)

                       Personal Consumption (previous -0.7%)

10:00 AM ET. SEC Open Meeting

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 427.191M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +8.845M)

                       Gasoline Stocks (Bbl) (previous 214.808M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +0.333M)

                       Distillate Stocks (Bbl) (previous 111.801M)

                       Distillate Stocks, Net Chg (Bbl) (previous +0.095M)

                       Refinery Usage (previous 90.9%)

                       Total Prod Supplied (Bbl/day) (previous 19.892M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.181M)

Thursday, September 15, 2022 

8:30 AM ET. August Import & Export Price Indexes

                       Import Prices (previous -1.4%)

                       Non-Petroleum Prices (previous -0.7%)

                       Petroleum Prices (previous -6.8%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (previous 222K)

                       Jobless Claims, Net Chg (previous -6K)

                       Continuing Claims (previous 1473000)

                       Continuing Claims, Net Chg (previous +36K)

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

8:30 AM ET. September Philadelphia Fed Business Outlook Survey

                       Business Activity (previous 6.2)

                       Prices Paid (previous 43.6)

                       Employment (previous 24.1)

                       New Orders (previous -5.1)

                       Prices Received (previous 23.3)

                       Delivery Times (previous 2.7)

                       Inventories (previous 2.3)

                       Shipments (previous 24.8)

8:30 AM ET. September Empire State Manufacturing Survey

                       Mfg Idx (previous -31.3)

                       Employment Idx (previous 7.4)

                       New Orders Idx (previous -29.6)

                       Prices Received (previous 32.7)

8:30 AM ET. August Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (previous +0%)

                       Sales, Ex-Auto, M/M% (previous +0.4%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0.7%)

9:15 AM ET. August Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (previous +0.6%)

                       Capacity Utilization % (previous 80.3%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.4)

10:00 AM ET. July Manufacturing & Trade: Inventories & Sales

                       Total Inventories (previous +1.4%)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2694B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +54B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, September 16, 2022 

10:00 AM ET. September University of Michigan Survey of Consumers - preliminary

                       Mid-Mo Sentiment (previous 55.1)

                       Mid-Mo Expectations (previous 54.9)

                       Mid-Mo Current Idx (previous 55.5)

10:00 AM ET. August State Employment and Unemployment

4:00 PM ET. July Treasury International Capital Data

The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes

The Dow gapped down and closed sharply lower on Tuesday after the release of August's CPI index showed prices rose higher that traders had expected. August inflation came in at 8.3%, which was above pre-report expectations triggering a massive sell off. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow renews the decline off August's high, the 75% retracement level of the June-August rally crossing at 30,813.63 is the next downside target. Closes above the 20-day moving average crossing at 32,456.26 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 32,456.26. Second resistance is the August 26^th high crossing at 33,364.70. First support is the 75% retracement level of the June-August rally crossing at 30,813.63. Second support is the 87% retracement level of the June-August rally crossing at 30,255.18.

The December NASDAQ 100 posted a huge key reversal down as it closed sharply lower on Tuesday following the release of August's CPI data that showed inflation was 8.3%. This number was above trade expectations that triggered today's sharp sell off as traders expect the Fed to continue to be aggressive in raising interest rates in order to slow inflation. Today's low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible. If December renews the decline off August's high, the 75% retracement level of the June-August rally crossing at 11,799.16 is the next downside target. Closes above the 20-day moving average crossing at 12,780.21 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 12,780.21. Second resistance is the August 26^th high crossing at 13,296.25. First support is is the 75% retracement level of the June-August rally crossing at 11,799.16. Second support is the 87% retracement level of the June-August rally crossing at 11,474.02.

The December S&P 500 posted a huge key reversal down on Tuesday signaling an end to the rally off last-Wednesday's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, the 75% retracement level of the June-August rally crossing at 3828.16 is the next downside target. Closes above today's high crossing at 4175.00 are needed to renew the rally off last-Wednesday's low. First resistance is today's high crossing at 4175.00. Second resistance is the August 26^th high crossing at 4234.25. First support is last-Wednesday's low crossing at 3900.00. Second support is the 75% retracement level of the June-August rally crossing at 3828.16.    

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December T-bonds closed down 13-pts. at 131-29. 

December T-bonds closed lower on Tuesday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, June's low crossing at 131-01 is the next downside target. Closes above the 20-day moving average crossing at 135-25 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 133-21. Second resistance is the 20-day moving average crossing at 135-24. First support is today's low crossing at 131-04. Second support is June's low crossing at 131-01.

December T-notes closed down 210-pts. at 114.305.

December T-notes closed sharply lower on Tuesday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If December extends the decline off August's high, June's low crossing at 114.060 is the next downside target. Closes above the 20-day moving average crossing at 117.029 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 117.029. Second resistance is the 50-day moving average crossing at 118.143. First support is today's low crossing at 114.235. Second support is the June 14^th low crossing at 114.075.  

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

October crude oil closed slightly lower on Tuesday as it consolidated some of the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $91.47 would signal that a short-term low has been posted. If October extends the decline off August's high, the 50% retracement level of the 2021-2022 rally crossing at $75.35 is the next downside target. First resistance is the 20-day moving average crossing at 89.26. Second resistance is the 50-day moving average crossing at $91.47.First support is last-Thursday's lowcrossing at $81.20. Second support is the February 18^th lowcrossing at $79.83.  

October heating oil closed lower on Tuesday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, the August 15^th low crossing at 3.3491 is the next downside target. Closes above last-Tuesday's high crossing at 3.7771 would signal that a short-term low has been posted. First resistance is last-Tuesday's high crossing at 3.7771. Second resistance is August's high crossing at 4.0392. First support is the August 15^th low crossing at 3.3491. Second support is the 38% retracement level of the 2021-2022 rally crossing at 3.1221. 

October unleaded gas closed higher on Tuesday as it consolidated some of the decline off June's high. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $2.5657 would confirm that a short-term low has been posted. If October renews the decline off June's high, the 50% retracement level of the 2021-2022 rally crossing at 2.2446 is the next downside target. First resistance is the 20-day moving average crossing at 2.5657. Second resistance is the 50-day moving average crossing at $2.7069. First support is last-Thursday's low crossing at 2.2890. Second support is the 50% retracement level of the 2021-2022 rally crossing at 2.2446.

October Henry natural gas closed higher on Tuesday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 8.891 would signal that a short-term low has been posted. If October renews the decline off August's high, the 62% retracement level of the June-August rally crossing at 7.133 is the next downside target. First resistance is the 10-day moving average crossing at 8.474. Second resistance is the 20-day moving average crossing at 8.891. First support is August's low crossing at 7.536. Second support is the 62% retracement level of the July-August rally crossing at 7.133.     

CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""

The December Dollar closed sharply higher as it posted a key reversal up on Tuesday ending a four-day decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's nights session begins trading. Stochastics and the RSI are poised to turn neutral to bullish signaling sideways to higher prices are possible near-term. If December renews the rally off August's low, monthly resistance crossing at $114.782 is the next upside target. Closes below the 50-day moving average crossing at $107.172 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $110.480. Second resistance is monthly resistance crossing at $114.782. First support is the 50-day moving average crossing at $107.172. Second support is August's low crossing at $104.150.   

The December Euro posted a key reversal down on Tuesday as it signaled a likely end to the rally off last-Tuesday's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this year's decline, the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211 is the next downside target. Closes above the 50-day moving average crossing at $1.02106 is needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at $1.02106. Second resistance is August's high crossing at 1.04650. First support is last-Tuesday's low crossing at $0.99350. Second support is the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211. 

The December British Pound posted a key reversal down on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. If December extends this year's decline, psychological support crossing at 1.1400 is the next downside target. Closes above the 20-day moving average crossing at 1.1731 would signal that a short-term low has been posted. First resistance the 20-day moving average crossing at 1.1731. Second resistance is the 50-day moving average crossing at 1.1943. First support is last-Wednesday's low crossing at 1.1427. Second support is psychological support crossing at 1.1400.   

The December Swiss Franc posted a key reversal down on Tuesday as it consolidated some of the rally off last-Wednesday's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Wednesday's low. Closes below the 10-day moving average crossing at 1.03743 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.06325. Second resistance is August's high crossing at 1.07550. First support is the 10-day moving average crossing at 1.03743. Second support is last-Wednesday's low crossing at 1.02210.   

The December Canadian Dollar posted a key reversal down on Tuesday ending the rally off last-Wednesday's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 50-day moving average crossing at 77.15 would signal that a short-term low has been posted. If December renews the decline off August's high, the 62% retracement level of the 2020-2021 rally crossing at 74.06 is the next downside target. First resistance is the 50-day moving average crossing at 77.15. Second resistance is the August 25^th high crossing at 77.50. First support is last-Wednesday's low crossing at 75.67. Second support is the 62% retracement level of the 2020-2021 rally crossing at 74.06.

The December Japanese Yen closed higher on Friday as it consolidates some of the decline off August's high. The mid-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this year's decline, is long-term support crossing at 0.065720 is the next downside target. Closes above the 50-day moving average crossing at 0.074058 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.77151. Second resistance is the August 25^th high crossing at 0.077500. First support is last-Wednesday's low crossing at 0.069665. Second support is long-term support crossing at 0.065720.  

PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""

December gold closed lower on Tuesday as it extended the trading range of the past eight-days. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 50-day moving average crossing at $1757.10 would signal that a short-term low has been posted. If December renews the decline off August's high, monthly support crossing at $1610.30 is the next downside target. First resistance is the 50-day moving average crossing at $1757.10. Second resistance August's high crossing at $1824.60. First support is the September 1^st low crossing at $1699.10. Second support is July's low crossing at $1696.10.

December silver posted an inside day with a lower close on Tuesday as it consolidated some of the rally off the September 1^st low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the August high crossing at 21.020 is the next upside target. Closes below the 10-day moving average crossing at 18.428 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 20.005. Second resistance is August's high crossing at 21.020. First support is the 10-day moving average crossing at 18.428. Second support is the September 1^st low crossing at 17.320. 

December copper closed lower on Tuesday.The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Tuesday's low, the 38% retracement level of the March-July decline crossing at 3.8395 is the next upside target. If December renews the decline off August's high, July's low crossing at 3.1315 is the next downside target. First resistance is the 38% retracement level of the March-July decline crossing at 3.8395. Second resistance is the 50% retracement level of the March-July decline crossing at 4.0590. First support is last-Tuesday's low crossing at 3.3610. Second support is July's low crossing at 3.1315.

GRAINS? http://quotes.ino.com/ex?changes/?c=grains "

December Corn closed down $0.03 1/4-cents at $6.92 3/4. 

December corn posted an inside day with a lower close on Tuesday as it consolidated some of Monday's rally. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, the 75% retracement level of the May-July decline crossing at $7.15 is the next upside target. Closes below the 20-day moving average crossing at $6.57 3/4 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at $6.99 1/2. Second resistance is the 75% retracement level of the May-July decline crossing at $7.15. First support the 20-day moving average crossing at $6.57 3/4. Second support is the 50-day moving average crossing at $6.25 1/4. 

December wheat closed up $0.01 3/4-cents at $8.60 1/2.  

December wheat closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the July 29^th high crossing at $8.63 3/4 would confirm an upside breakout of the July-September trading range. Closes below the September 1^st low crossing at $7.91 1/4 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $8.78. Second resistance is the July 11^th high crossing at $9.54. First support is August's low crossing at $7.43 1/4. Second support is the 75% retracement level of the January-May's rally crossing at $7.23.

December Kansas City Wheat closed up $0.06 3/4-cents at $9.33 3/4.

December Kansas City wheat closed higher on Tuesday and above the July 29^th high crossing at $9.21 1/2 signaling that a short-term low has been posted. The mid-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the July 11^th high crossing at $10.10 is the next upside target. Closes below September's low crossing at $8.65 would signal that a short-term top has been posted. First resistance is today's high crossing at $9.45 3/4. Second resistance is the July 11^th high crossing at $10.10. First support is September's low crossing at $8.65. Second support is August's low crossing at $8.08 1/2.

December Minneapolis wheat closed up $0.04 3/4-cents at $9.31 1/4.

December Minneapolis wheat closed higher on Tuesday as it extends the July-September trading range. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the July 20^th high crossing at $9.67 would mark an upside breakout of the July-September trading range and would open the door for additional gains near-term. If December resumes the decline off May's high, the 75% retracement level of the January-May rally crossing at $8.29 1/2 is the next downside target. First resistance is the July 20^th high crossing at $9.67. Second resistance is the July 11^th high crossing at $10.56 1/4. First support is August's low crossing at $8.61 3/4. Second support is the 75% retracement level of the January-May rally crossing at $8.29 1/2.

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

November soybeans closed down $0.09 1/2-cents at $14.78 3/4.

November soybeans closed lower on Tuesday as it consolidated some of the rally off last-Thursday's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off last-Thursday's low, the 75% retracement level of the June-July decline crossing at $15.12 is the next upside target. Closes below the 10-day moving average crossing at $14.21 1/2 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the June-July decline crossing at $15.12. Second resistance is the 87% retracement level of the June-July decline crossing at $15.47 3/4. First support is the 10-day moving average crossing at $14.21 1/2. Second support is last-Thursday's low crossing at $13.73.  

December soybean meal closed down $10.80 at $423.80. 

December soybean meal posted an inside day with a lower close on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, long-term resistance on the monthly continuation chart crossing at $457.00 is the next upside target. Closes below the 20-day moving average crossing at $415.70 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $440.70. Second resistance is long-term resistance on the monthly continuation chart crossing at $457.00. First support is the 20-day moving average crossing at $415.70. Second support the 50-day moving average crossing at $407.20.    

December soybean oil closed up 24-pts. at 66.73. 

December soybean oil closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off July's low, the 62% retracement level of the June-July decline crossing at 69.82 is the next upside target. Closes below the 50-day moving average crossing at 62.77 would temper the near-term friendly outlook. First resistance is the August 12^th high crossing at 68.16. Second resistance is the 62% retracement level of the June-July decline crossing at 69.82. First support is September's low crossing at 61.24. Second support is the July 22^nd low crossing at 55.53. 

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

October hogs closed up $3.88 at $95.75. 

October hogs closed sharply higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off last-Thursday's low, the August 23^rd high crossing at $96.98 is the next upside target. If October renews the decline off August's high, the 87% retracement level of the July-August rally crossing at $88.73 is the next downside target. First resistance is the August 23^rd high crossing at $96.98. Second resistance is August's high crossing at $101.65. First support is last-Thursday's low crossing at $89.12. Second support is the 87% retracement level of the July-August rally crossing at $88.73. 

October cattle closed down $0.92 at $144.83. 

October cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the aforementioned rally, April's high crossing at $147.50 is the next upside target. Closes below the 50-day moving average crossing at $142.96 would renew the decline off August's high. First resistance is August's high crossing at $146.25. Second resistance is April's high crossing at $147.50. First support is the 50-day moving average crossing at $142.96. Second support is the July 29^th low crossing at $141.43. 

October Feeder cattle closed down $2.45 at $180.68. 

October Feeder cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, the July low crossing at $176.25 is the next downside target. Closes above last-Friday's high crossing at $186.70 would signal that a short-term low has been posted. First resistance is last-Tuesday's high crossing at $187.00. Second resistance is August's high crossing at $190.20. First support is July's low crossing at $176.25. Second support is the June 13^th low crossing at $173.60.     

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

December coffee closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 21.75 would open the door for a larger-degree decline near-term. Closes above the 10-day moving average crossing at $22.81 would signal that a short-term low has been posted. First resistance is August's high crossing at $24.30. Second resistance is February's high crossing at $25.34. First support is the 50-day moving average crossing at $21.75. Second support is the August 19^th low crossing at $20.95.                     

December cocoa closed lower on Tuesday as it extends the July-September trading range. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. If December extends last-week's decline, August 23^rd low crossing at 23.14 is the next downside target. If December resumes the rally off August's low, the June 21^st high crossing at 25.07 is the next upside target.       

October sugar closed higher on Tuesday as it extends the August-September trading range. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are  neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the August 30^th high crossing at 18.52 would signal that a short-term low has been posted. Closes below the August 19^th low crossing at 17.61 would open the door for a possible test of August's low crossing at 17.20.    

December cotton closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the 50-day moving average crossing at 100.83 is the next downside target. Closes above the 20-day moving average crossing at 110.37 would signal that a low has been posted.